Barclays has put aside an extra £700m to compensate customers for the mis-selling of payment protection insurance, bringing total provisions to £2bn.

Royal Bank of Scotland (RBS) has closed its Volatility Controlled Cautious Managed and Balanced Managed funds less than two years after launch, after both funds racked up heavy losses.

Former Legal & General chief executive Tim Breedon is set to join the board of Barclays as a non-executive director.

Hargreaves Lansdown is topping the FTSE 100 leaderboard for a second consecutive day of trading as the index starts the week in the black.

Former Hargreaves Lansdown investment manager Ben Yearsley has joined Charles Stanley to help spearhead the group's new direct-to-client investment service.

The FSA should go further in its DFM transparency drive and oblige discretionaries to publish total expense ratios for their portfolios, according to David Tiller, director of strategy & business development at Standard Life Wealth.

European shares have opened lower for the third consecutive day after Japan led Asian indices lower overnight.

The Bank of England has held interest rates at 0.5% for the 42nd consecutive month and kept its bond purchase target at £375bn.

Allianz Global Investors is to merge away three UK equity funds as it refocuses its adviser business in the UK.

UK growth may yet provide a positive surprise relative to developed market peers, according to analysts at Credit Suisse.